Pound Sterling Dollar Analysis and Euro Dollar Analysis

After gaining a few hundred pips this month, we have to plan our trade for the future. Some traders stops when their target are fully met before the end of the month, but some traders are always precautious when they see signals on their chart.

Remember, every forex traders have their own style of trading. I won't call people who always follow free signals are traders. Each traders have their own view of the market. I'm not saying learning from other traders is wrong, but continuously taking signals from other traders won't make us traders, rather just a follower. "When you give a man a fish, you feed them once. But when you teach a man how to fish, you feed them the rest of his life." My point is, learn how to trade from your own point of view.

As for me, I want to see how our forex chart develops into a kind of chart we want to see first before we decide to take any trade. At 4hour timeframe I am trading in, sometimes we have to wait for price to develop and study how it moves. One essential point in forex trading requires patient, just like I said several times on this blog. Price action or round numbers are some technical requirements for forex trading.

Now let's go to our possible run for this week's forex trade. We would trade if there are nice setup(s). However we have to be cautios of those low probability trade that could trap us and get ourselves at negative result of forex trade. Here we go:

EURO DOLLAR ANALYSIS:


POUND STERLING DOLLAR ANALYSIS: